Lloyds profits bolstered by lower PPI costs
Lloyds’ share price remained depressed, despite delivering a good set of first quarter figures, containing higher profits as Payment Protection Insurance (PPI) costs fall.
Companies
-
-
Credit Suisse surprises with ‘better than expected’ Q1
Credit Suisse has reported its adjusted pre-tax profits were up 36% at CHF1.2bn for the first quarter, thanks to inflows into its wealth management division.
-
RLAM revolts against Persimmon pay
Royal London Asset Management is one of the few asset managers that has confirmed it will vote against sky-high executive pay packages at Persimmon’s AGM on Wednesday, as the housebuilder comes under fire for failing to meet the living wage for its lowest-paid workers.
-
Prothena blow-up overshadows Woodford investment trust results
Neil Woodford has highlighted his track record for backing biotech winners in his Patient Capital Trust annual review, just one day after Prothena’s share price blow-up.
-
Woodford stands by Prothena as shares crash 70%
Neil Woodford has said he will continue to back American biotech firm Prothena, as it reels from the decision to halt development on its star drug, which failed key clinical tests.
-
Capita share rally fails to convince analysts
Capita’s share price has rallied after the firm confirmed a £701m rights issue and more than £500m in net losses, but analysts remain cautious on recommending the stock.
-
Barclays boss faces fine over whistleblowing scandal
Barclays CEO Jes Staley is facing a fine for an alleged breach of conduct in his attempts to uncover a 2016 whistleblower but will be allowed to keep his job.
-
Aviva sorry for platform troubles as adviser pulls clients
Aviva has apologised for its platform, which has been a source of ongoing frustration for advisers since it was updated three months ago.
-
Jupiter outflows exceed analyst estimates
Jupiter has posted net outflows of £1.3bn over the first quarter, exceeding analysts’ already bearish predictions.
-
Sorrell’s exit exposes governance red flags
Martin Sorrell’s sudden resignation from WPP amid personal misconduct allegations raises questions about executive pay and the ad giant’s reliance on its former CEO, according to Luke Hildyard, director at the High Pay Centre.
-
BT Pension Scheme sells Hermes stake to US giant
The UK’s BT Pension Scheme has sold a 60% stake in Hermes Investment Management to US asset manager Federated Investors in a £246m deal with plans to utilise distribution capabilities on both side of the Atlantic.
-
Polar and Man defy volatile quarter with AUM growth
Polar Capital and Man Group have posted positive net flows and boosted assets under management during a volatile first quarter.
